What are the requirements or steps to register an individual business?

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What are the requirements or steps to register an individual business?

I paint art pieces at home and will sell the art pieces at art shows, farmer’s markets, etc.I will have no employees and will be the sole owner.

Asked on April 10, 2013 under Business Law, Florida

Answers:

A J Mitchell / Law Offices of A. J. Mitchell, LLC

Answered 8 years ago | Contributor

Sounds like you are asking how to form a legal entity, which will allow you to avoid personal liability if your business is sued and provide you more favorable tax treatment -- I strongly recommend against operating as a sole proprietor.  So then, you must decide whether to form a corporation or a limited liability company (LLC). Either choice will require you to reserve a business name with the Secretary of State (SoS).  Once your business name is approved, you will then have to file articles of incorporation (if you are forming a corporation) or articles of organization (if you are creating an LLC).  Once you acquire your Certificate of Incorporation/Organization from the SoS, you should then obtain a Federal Employment Identification Number (EIN) from the Internal Revenue Service -- this can all be done online.  Once you receive your EIN, you can then open an operating account at a bank of your choice -- you should have your Certificate of Incorporation/Organization and your EIN handy because the bank will need copies of these.  You should then obtain a business license to do business in the county where your business is located -- you can check online to find out where you need to go in your county in order to make this happen.  Hope this helps. 


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